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Full text of "The New World Order"

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But directly you allow individuals not only to
obtain goods for consumption, but also to obtain
credit to procure material for types of production
outside the staple productions of the state, the
question of credit and debt arises and money be-
comes more complicated. With every liberation
of this or that product or service from collective
control to business or experimental exploitation,
the play of the money system enlarges and
the laws regulating what you may do with your
money, what interest you may take for it, the
company laws, bankruptcy laws and so forth
increase. In any highly developed collective
system the administration will certainly have to
give credits for hopeful experimental enterprises.
When the system is not a collectivism, monetary
operations for gain are bound to creep in and
become more and more complicated. Where
most of the substantial side of life is entrusted to
unco-ordinated private enterprise, the intricacy
of the money apparatus increases enormously.
Monetary manipulation becomes a greater and
greater factor in the competitive struggle, not
only between individuals and firms, but between
states. As Mr Streit himself shows, in an excel-
lent discussion of the abandonment of the gold
standard, inflation and deflation become devices
in international competition. Money becomes